Short Interest in Tetra Technologies, Inc. (NYSE:TTI) Drops By 15.6%

Tetra Technologies, Inc. (NYSE:TTI) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 7,508,844 shares, a decrease of 15.6% from the February 26th total of 8,892,691 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average trading volume of 1,665,352 shares, the short-interest ratio is currently 4.5 days.

Tetra Technologies Trading Down 2.7%

TTI opened at $8.39 on Tuesday. Tetra Technologies has a one year low of $2.03 and a one year high of $12.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 419.25 and a beta of 1.20. The stock’s 50 day moving average price is $9.99 and its 200-day moving average price is $8.56.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tetra Technologies had a net margin of 0.48% and a return on equity of 12.56%. The business had revenue of $146.68 million for the quarter, compared to analysts’ expectations of $140.98 million. On average, equities analysts forecast that Tetra Technologies will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Tetra Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Tetra Technologies by 2.1% during the third quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after acquiring an additional 174,028 shares during the period. Rubric Capital Management LP bought a new position in Tetra Technologies in the third quarter worth approximately $26,046,000. Dimensional Fund Advisors LP grew its stake in Tetra Technologies by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after purchasing an additional 72,338 shares in the last quarter. State Street Corp increased its holdings in Tetra Technologies by 11.2% during the 4th quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock worth $32,541,000 after purchasing an additional 350,051 shares during the period. Finally, American Century Companies Inc. raised its position in Tetra Technologies by 13.8% during the 3rd quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock valued at $19,642,000 after purchasing an additional 414,076 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.

Analysts Set New Price Targets

TTI has been the subject of a number of recent research reports. Clear Str lowered shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. CJS Securities began coverage on shares of Tetra Technologies in a research note on Thursday, December 11th. They set an “outperform” rating and a $11.50 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Stifel Nicolaus lifted their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Northland Securities upped their target price on shares of Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research report on Wednesday, December 31st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.